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Japanese oil imports jump
JAPAN’S current account deficit widened again in April, official data showed yesterday, as rising oil and gas imports outstripped increased exports.
Exports rose 7.9 per cent in April from a year earlier, the biggest gain in more than a year, Ministry of Finance data showed, helped by a recovery in overseas demand.
Exports to Asia, which account for more than half of Japan’s total exports, fell 2.6 per cent from a year earlier. Meanwhile imports rose eight per cent, driven by rising oil and gas purchases after the closure of nuclear power facilities.